By Sade Spence (staff@latinospost.com) | First Posted: Aug 14, 2015 11:23 AM EDT

Say it ain't so! Will Smith may not star in the action-packed sequels to "Bad Boys." However, he will still be involved in the upcoming films to some degree.

The Hollywood Reporter recently reported Smith will be taking part in the production of the highly anticipated movies, although it is unsure whether he will produce them, star in them or do both.

The 46-year-old is a man of many hats, so fans, cross your fingers for both.

According to SlashFilm, producer Jerry Bruckheimer said Smith's busy schedule has been a key element in delaying the "Bad Boys" sequels since April 2014.

"It's so funny because we'll get Sony real excited to make the movie, and then Will is off doing two movies. And then, Will will come back and be real excited about it, and Sony will say, 'Well, maybe it's not the time for this,'" he said.

"And then, ride along came out and was a big hit, and now they're all excited to make the movie, but Will is off doing something else," Bruckheimer continued. "It's just trying to get everybody together to make it. But, we're working on the script. We have a lot of faith and hope that we'll do it."

Co-star Martin Lawrence alluded to Smith's involvement in the third and fourth installments, while making a guest appearance on "Conan" in August 2014.

When the host asked if he could make a cameo in the film, Lawrence replied, "I will mention it to Will Smith and Jerry Bruckheimer."

"Bad Boys 3," which will definitely star Lawrence, is scheduled to hit theaters on Feb. 17, 2017, while the follow-up is slated for a July 3, 2019 release. 

In the meantime, it appears Smith has definitely keeping busy. He is rumored to be taking a step back into the television industry.

The former rapper is reportedly working on a project similar to that of "Fresh Prince of Bel-Air," the '90s sitcom that catapulted him to fame. 

TVline.com originally reported Smith and his production company, Overbrook Entertainment, were rebooting the show with a modern twist.

However, Entertainment Weekly has learned the potential show will share a few similarities to the hit NBC sitcom, and as of now, there is no script, concept or network attached to it. 

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